Excess Quantity Demanded

The amount by which quantity demanded exceeds quantity supplied at a given price.

Suppose for a given price of U.S. $2 the amount of Coke that is demanded in an economy is 100. If the Coca Cola company is only willing to produce and sell 50 cans of Coke at the price of U.S. $2, then there is an excess quantity demanded of 50 cans of Coke at the price of U.S. $2. This means consumers are frustrated because they cannot find producers that will sell Coke at the current price of U.S. $2, causing a shortage of Coke.